Professional Recognition (Finance) (1 Viewer)

[Grizzly]

The educational requirements for ACCT Prof Recog is spelled out quite clearly on the accting website.
But what about for finance.

Since, the AIBF and SIA have merged to become FINSIA - do the

The Australian Institute of Banking and Finance (AIBF)
The educational requirements for Senior Associateship will be satisfied if:

1. graduates awarded either a Bachelor of Commerce or Bachelor of Economics degree have included in their studies LEGT1761 Law of Banking and Finance, MARK1012 Marketing Fundamentals and IROB1712/MGMT1712 Management of Organisations; or and
2. a further sequence of at least three coherent courses in banking or Finance. Students should note that Senior Associate also requires a minimum of two years employment in the banking and finance industry.
Graduates who have met the academic, but not the work experience requirements for Senior Associate, qualify for Associate membership.
http://www.aibf.com.au
The Secruities Institute of Australia
The Securities Institute of Australia grants exemptions from certain courses leading to associate membership of the Institute to graduates who have completed finance courses offered in the BCom or BEc degree programs.
Applications for registration, exemption or admission should be made direct to the Institute.
http://www.securities.edu.au/

Still apply ? They probably would have changed.


Can anyone point me to the EDUCATIONAL REQUIREMENTS to gain access to "post" qualifications / recognition by FINSIA or OTHER financial bodies ?

( I emailed FINSIA but they were too vague and dont like talking to us undergrad )

 

[Sharpshooter]

from memory pre-finsia the SIA membership was a pay basis (beyond associate membership) usually if you do a course there. i dont know what theyre doing now for membership and required subjects, what exactly did they say to you in their reply email to you?
i'd kinda assume that if you (rather your employer paid for you to do ) postgrad courses at finsia (that are mainly the old sia courses?) then that would get you some sort of membership, along with industry experience necessary of course. but i do know you can buy student membership at finsia if your really interested in doing some subsidised courses before you finish up uni. you even get a snazzy card!

 

[phungus]

In regards to the educational requirements for CA and CPA recognition, am i right in assuming that you can still get that recognition if you double major in (my case) finance and accounting? I was confused a little by the UNSW handbook which only shows the recognition criteria in the single major of accounting page and not double major page.

Another quick question, which course would be "Australian Commercial and Corporate Law" (one of the requirements for CA).

Thanks

 

[ricenoodles]

I wasn't aware that there was another course titled "Australian Commercial and Corporate Law" that was a CA requirement.

To my understanding, for CA we need:
7 accounting courses
4 legt courses (legal environment, bus transactions, entities, taxation)
1 fins course (business finance)

Correct me if I'm wrong.

 

[phungus]

Maybe its just a misunderstanding on my part. This is what it says for CA:

The Institute of Chartered Accountants in Australia
Graduates who have completed the Bachelor of Commerce degree program are eligible under the Institute's new admission requirements to enter the 'CA Program' leading to membership. The specific courses to be included have been reduced by the Institute to the following 6 core areas.

- Financial Acounting
- Management Accounting
- Finance
- Auditing
- Australian Commercial and Corporate Law
- Australian Taxation Law


So would that mean courses under those criterions or something? I'm completely lost now lolz.

 

[mr_shittles]

The ICAA specifies each and every course that needs to be completed for their accreditation purposes. See http://www.icaa.org.au/entry/index.cfm?id=A101224293 and click the icon 2005 ATC List.pdf

Since this thread has moved a bit off topic, and getting back to the original question, I don't think there are exemptions required for Finsia any more. Basically, even though it is a merger, SIA pretty much took over the AIBF, and its now their system of membership. The website outlining the membership categories is http://www.icaa.org.au/entry/index.cfm?id=A101224293

I think once you graduate from UNSW with a Commerce or Ecoconmics degree, and provided you work in the securities/banking industry, they will give you associate membership (even without completing any of their courses). Thatys my understanding based on reading http://www.finsia.edu.au/Membership/Becoming_a_Member

Please correct me if I'm wrong. And Grizzly, you're right, unless you're interested in forking out a few hundred dollars to do one of their courses, they're usually not too keen to talk to you about membership. SIA traditionally is more inaccessible to undergrads than the AIBF and I guess the SIA way of doing things has probably prevailed.

 

[Grizzly]

The ICAA specifies each and every course that needs to be completed for their accreditation purposes. See http://www.icaa.org.au/entry/index.cfm?id=A101224293 and click the icon 2005 ATC List.pdf

Since this thread has moved a bit off topic, and getting back to the original question, I don't think there are exemptions required for Finsia any more. Basically, even though it is a merger, SIA pretty much took over the AIBF, and its now their system of membership. The website outlining the membership categories is http://www.icaa.org.au/entry/index.cfm?id=A101224293

I think once you graduate from UNSW with a Commerce or Ecoconmics degree, and provided you work in the securities/banking industry, they will give you associate membership (even without completing any of their courses). Thatys my understanding based on reading http://www.finsia.edu.au/Membership/Becoming_a_Member

Please correct me if I'm wrong. And Grizzly, you're right, unless you're interested in forking out a few hundred dollars to do one of their courses, they're usually not too keen to talk to you about membership. SIA traditionally is more inaccessible to undergrads than the AIBF and I guess the SIA way of doing things has probably prevailed.

Yes, i've actually looked at the courses FINSIA offer.

Im interested in the Dip. of Financial Services.
Only 2 comulsary modules, and 2 electives, around 700$ each module.
I'll give it some thought.

Whats your opinion of it mr_shittles ?

 

[mr_shittles]

Yes, i've actually looked at the courses FINSIA offer.

Im interested in the Dip. of Financial Services.
Only 2 comulsary modules, and 2 electives, around 700$ each module.
I'll give it some thought.

Whats your opinion of it mr_shittles ?

I don't think that the courses are really that important for us undergrads. In most cases, if you do go to work in the banking/securities industry, your employer will pay for you to do it. For example, Macquarie Bank offers to sponsor SIA courses for its grads, so I'm assuming SIA courses are pretty useful if you're in the industry.

 

[mojako]

what do u get with this FINSIA recognition?

does it boost your salary (like CPA)?

do u have to pay initial fee and annual fee??

 

[Grizzly]

what do u get with this FINSIA recognition?

does it boost your salary (like CPA)?

do u have to pay initial fee and annual fee??

Off the top of my head,

I think that studying at finsia trains you for qualified competancies....e.g. "provide advice in superannunation...or financial products". I mean, a major in FINS does not do this...and in a way, i guess, gives you a good footing for later financial services that you personally want to provide.

 

[§eraphim]

Off the top of my head,

I think that studying at finsia trains you for qualified competancies....e.g. "provide advice in superannunation...or financial products". I mean, a major in FINS does not do this...and in a way, i guess, gives you a good footing for later financial services that you personally want to provide.

I'll be going for CFA.

 

[Grizzly]

I'll be going for CFA.

Yes i want to head in that direction too.

U wouldnt have the requirements to enter the program would you ? Link ?
Thanks

 

[§eraphim]

http://www.cfainstitute.org/

I think it's at least a 3yr degree or 4yrs professional work experience.

FYI: SIA (now FINSIA) also offers a CFA bridging program for PS146 accreditation.

 

[Grizzly]

FYI: SIA (now FINSIA) also offers a CFA bridging program for PS146 accreditation.

I dun get it ?
Coz doing the dip. fin. services gives you PS146 - so this would give you .... when starting CFA ?

I'd like to start out at the finsia before doing the CFA - im waiting on a potential job offer and then off to finsia whilst p.t uni

 

[Exeter]

would anyone have just the basics of what needs to be done at uni to get accredited?
as in
finance subjects:
extra subjects:
etc?

 

[mojako]

Off the top of my head,

I think that studying at finsia trains you for qualified competancies....e.g. "provide advice in superannunation...or financial products". I mean, a major in FINS does not do this...and in a way, i guess, gives you a good footing for later financial services that you personally want to provide.

hmm so u have to study from them?
and u have to do certain courses at uni to study at FINSIA?

 

[Grizzly]

Yeh you study from them, they got "lectures" mostly in the cbd that are from 6pm onwards.

Nah, you dont have to do certain subs to study at finsia, thats the beauty of it, you can complete their diplomia course within a year, whilst still studying at uni

only downside is the 4modules u gotta do can't be put on hecs

 

[mojako]

whats the info on
http://www2.banking.unsw.edu.au/nps...eArea&maxWnd=_Current_ProfessionalRecognition

is it talking about a different thing than the one you're talking about?
or is it really outdated.. coz of the merger of AIBF and SIA?

anyway according to that page, if u do fin major, do 1 marketing course and 1 management course, u can be an associate... then... well with cpa u need to be an associate to do the "cpa program".. but u dont need to with finsia?
so why wud anyone do the marketing and management and become associate?

 

[Grizzly]

yeh, i think thats outdated because of the merger. the course that they offer now, and from email correspondence with them, you dont need those subjects to gain entry into one of their programs.

e.g. http://www.finsia.edu.au/Education/Courses/Courses_Offered/DFS
Diploma of Financial Services
Who should enrol?
You should enrol if you are:

a recent entrant to the finance and investment industry seeking a recognised industry qualification
working in areas such as IT, marketing, back office operations, personnel or human resources and wish to deepen your industry knowledge
seeking ASIC compliance in multiple Adviser areas
a professional servicing the finance and investment industry
wanting a career change and aspire to be a stockbroker
a private investor seeking up-to-date information
not degree qualified and want to enrol in the Graduate Diploma of Applied Finance and Investment


however if you choose not to take a course at finsia, you can always be a "Student member"...just join in june or july i think..its free as opposed to about now where it costs over 200...but maybe free if u take a course...not sure

 

[mojako]

i thought diploma was something lower than a uni degree?

if u do that diploma, what can you do with that?
do u have limited career options without an "industry qualification"?

btw i see ur doing fin and accounting... which do u enjoy better?
which one has better career prospects?